Aditya Chakrabortty writes in The Guardian about the Shard, a titanic building that already towers above London, and explains how it is a microcosm for everything that's wrong with the world today:
So one of London's most identifiable buildings will have almost nothing to do with the city itself. Even the office space rented out at the bottom is intended for hedge funds and financiers wanting more elbow room than they can afford in the City or Mayfair. The only working-class Londoners will presumably bus in at night from the outskirts to clean the bins. Otherwise, to all intents and purposes, this will be the Tower of the 1%.
Perhaps the most remarkable thing about the Shard is that it simply exemplifies a number of trends. First, it merely confirms how far the core of London is becoming, in industrial terms, a one-horse town. Finance, which began in the Square Mile, has now spread to Docklands to the east, to Mayfair in the west and now to the South Bank.
Second, it proves that buildings are no longer merely premises owned by businesses, but are now chips for investment. What's more those chips are increasingly owned by people who barely ever set foot in the country. A study from Cambridge University last year, Who Owns the City?, found that 52% of the City's offices are now in the hands of foreign investors – up from just 8% in 1980. What's more, foreigners are piling into London property at an ever-increasing rate, as they look for relatively safe havens from the global financial turmoil. And yet, as the Cambridge team point out, the giddy combination of overseas cash and heavy borrowing leaves London in a very precarious position. Another credit crunch, or a meltdown elsewhere in the world, would now almost certainly have big knock-on effects in the capital.
The Shard is the perfect metaphor for modern London
(Image: Shard from the Hostel, a Creative Commons Attribution (2.0) image from tolomea's photostream)
It’s not just Mexican cement giant Cemex that’s refusing to bid on the Great Wall of Trump; many of the firms in the super-concentrated large-scale construction sector are signalling their unwillingness to participate in the wall’s construction.
In 2012, Google rolled out Certificate Transparency, a clever system to spot corrupt “Certificate Authorities,” the entities who hand out the cryptographic certificates that secure the web. If Certificate Authorities fail to do their jobs, they put the entire electronic realm in danger — bad certificates could allow anything from eavesdropping on financial transactions to […]
With the shambolic FARC peace deal finally in place, the Colombian government is hoping to shift the country’s farmers from Colombia’s major cash crop: the coca leaves that are refined into the world’s cocaine supply. Perhaps with the guerrillas no longer defending the crops they relied on for operating capital, Colombia can put coca behind […]
What could be more fun than a slingshot that shoots tiny airplanes? A slingshot that shoots tiny glowing airplanes of course! These toy planes are outfitted with ultra-bright LEDs, so you can fly all night without losing them in the trees.Whether you are a regular-sized child, or an overgrown adult one, these light-up flyers offer […]
You know the drill. You go to the dentist and they ask you how often you floss. You lie through your teeth and say, “every day!” (Bonus points if you have some cilantro or chives stuck in your gums from lunch). You don’t want to keep up the charade any longer, but rubbing that tiny strand […]
The Raspberry Pi Foundation has done outstanding work packing a fully capable desktop computer into a package the size of a deck cards—especially one that only costs $35. But if you already have a working laptop, why should you care? Oh, how much you have to learn. Besides operating well as a compact digital media hub, […]